Microphones Global Market Report 2024

“Microphones Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on microphones market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for microphones? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The microphones market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Product Type: Wired Microphones; Wireless Microphones
• 2) By Technology: Electret; MEMS; Other Technologies
• 3) By Application: Automotive; Commercial Security & Surveillance; Consumer Electronics; Industrial; Medical; Noise Monitoring & Sensing
• 4) By End-User: Studio & Broadcasting; Large Venues and Events; Educational Institutions; Government and Military; Corporate; Hospitality
• Companies Mentioned: Knowles Corporation; Goertek; STMicroelectronics; BSE; NeoMEMS Technologies
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

A microphone is a transducer designed to convert acoustic energy into audio signals.

The primary product categories in the microphone industry are wired microphones and wireless microphones. Wireless microphones eliminate the need for physical cables, allowing the user's voice to be transmitted wirelessly to an amplifying system's receiver through a wireless microphone system. The sound system amplifies the receiver's signal before relaying it to the speakers. Microphone technologies include electret and MEMS, among others, with applications spanning automotive, commercial security and surveillance, consumer electronics, industrial, medical, noise monitoring, and sensing. Microphones serve a wide range of end-users, including studios and broadcasting, large venues and events, educational institutions, government and military entities, as well as corporate and hospitality establishments.

The microphones market research report is one of a series of new reports from The Business Research Company that provides microphones market statistics, including microphones industry global market size, regional shares, competitors with a microphones market share, detailed microphones market segments, market trends and opportunities, and any further data you may need to thrive in the microphones industry. This microphones market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The microphones market size has grown steadily in recent years. It will grow from $2.63 billion in 2023 to $2.72 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth observed in the historical period can be attributed to several key factors, including the thriving media and entertainment industry, the evolution of telecommunications and audio communication technologies, the demand from the consumer electronics sector, the growth of professional audio recording, and the prominence of live performances and events.

The microphones market size is expected to see steady growth in the next few years. It will grow to $3.09 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The anticipated growth in the forecast period can be attributed to various key factors, including the increased adoption of voice-activated devices, the advancement of 5G technology, the growing importance of telemedicine and remote work solutions, the integration of voice control in automotive systems, and the proliferation of IoT devices. Significant trends expected in the forecast period encompass the use of directional microphones, the prevalence of wireless and Bluetooth connectivity, the emergence of miniature and wearable microphone technologies, the use of USB microphones, and the development of environmental and noise-canceling microphone solutions.

The widespread adoption of smartphones globally is significantly contributing to the expansion of the microphones market. As the demand for mobile phones increases, so does the need for microphones. The global proliferation of mobile phone usage, with an estimated 5 billion people owning mobile phones, half of which are smartphones, is on a rapid rise. Younger demographics, more inclined towards smartphones and digital connectivity, are using social media and the internet extensively. A Pew Research Center survey across 18 advanced economies indicated that a median of 76% possess smartphones, compared to 45% in emerging economies. In Japan, 69% of men and 63% of women own smartphones, indicating an upward trend in mobile phone adoption that is anticipated to drive the growth of the microphones market.

The increasing prevalence of hearing loss is projected to drive the growth of the microphones market. Hearing loss, whether partial or total, is becoming more prevalent, leading to a heightened demand for advanced hearing aid technology. Microphones are integral components of hearing aids, capturing environmental sounds for amplification to aid those with hearing impairments. The surge in demand for high-quality, miniature microphones capable of providing clear and natural sound amplification is evident. As of October 2023, a report by the World Health Organization (WHO) indicated that over 1.5 billion individuals, constituting around 20% of the global population, are expected to experience some form of hearing loss, with 430 million experiencing severe hearing impairment. Additionally, the number of individuals with debilitating hearing loss is projected to reach over 700 million by 2050. Thus, the growing prevalence of hearing loss is a significant driver behind the expansion of the microphones market.

Technical challenges surrounding the adoption of wireless microphones are anticipated to restrict the growth of the microphones market. Wireless microphones encounter signal blockages due to physical obstructions and distance between the transmitter and receiver. In large events, the reception of wireless microphones significantly weakens due to dead zones created by these obstructions and distance. Additionally, while hands-free microphones are popular and less intrusive, they are susceptible to voice drop when individuals turn their heads while speaking. Wireless microphones operating in various frequency bands encounter obstructions and signal blockages, presenting technical challenges that hinder the market's growth.

In both developing and developed economies, the rise in popularity of devices like Amazon Alexa and Google Home is driving the demand for microphones extensively used in these technologies. These devices are equipped with responsive microphones, enabling interactions through smart assistants that carry out various tasks, such as playing music or delivering news, with embedded software. The growing desire for personal home assistance, attributed to increasing disposable incomes and higher living standards, is a key factor propelling revenues in the global microphones market.

Leading companies in the microphones market are innovating and introducing new products, such as shotgun microphones, to cater to a wider customer base, drive sales, and enhance revenue streams. Shotgun microphones, also known as boom or interference tube microphones, are highly directional, capturing sound predominantly from a specific direction while minimizing off-axis noise. For instance, in July 2022, Sony Electronics Inc., a US-based consumer electronics manufacturer, introduced the ECM-G1 shotgun microphone. Distinguished by its large-diameter (14.6 mm) microphone capsule, this device excels in collecting clear sound while reducing noise, significantly elevating video production quality. It serves as an excellent accessory for mobile video content creators, ensuring clear voice recording, minimizing wind noise during outdoor shooting with a windscreen, and reducing low-frequency vibration noise through an anti-vibration dampening structure, eliminating cable-transmitted vibration noise in the MI (Multi-Interface) shoe setup.

In January 2022, Vitec Imaging Solutions, an Italy-based provider of premium hardware and software solutions, acquired Audix Corporation for an undisclosed amount. With this acquisition, Audix is poised to strengthen its audio capture strategy by leveraging additional specialist R&D capabilities to internally design and produce microphones. Audix Corporation, a US-based designer and manufacturer of microphones and electronic components, will further fortify its position in the microphone industry through this partnership.

Major companies operating in the microphones market include Knowles Corporation, Goertek, STMicroelectronics, BSE, NeoMEMS Technologies, Hosiden, InvenSense, Cirrus Logic, AAC Technologies, Infineon Technologies, OMRON, New Japan Radio, Bosch Sensortec, MEMSensing, Robert Bosch GmbH, Analog Devices Inc., Audio-Technica, HARMAN International (SAMSUNG), MUSIC Group (MUSIC Tribe), Sennheiser Electronic, SHURE, Sony, Yamaha, Mouser Electronics, Akustica Inc., Shandong Gettop Acoustic Co. Ltd., Vesper Technologies, CUI Inc., ZillTek Technology Corp., Hosiden Corporation, Sonion, Georg Neumann GmbH, Microscan Systems Inc., AKG Acoustics, Nevaton, Neumann, MXL, Soyuz Microphones, Solomon Design, ShuaiYin, Oktava

Asia-Pacific was the largest region in the microphones market in 2023. North America was the second-largest region in the microphones market. The regions covered in the microphones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the microphones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The microphones market consists of sales of wired microphones and wireless microphones. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.